Thursday, May 16, 2019

Singapore Executive Education Market Outlook to 2023: Ken Research

The report titledSingapore Executive Education Market Outlook to 2023 - By Type of Program (EMBA and MDP), By Funding of the Program MDPs (Company Sponsored and Self Funded) and EMBA (Self Funded, Partial Funding and Company Sponsored), By Duration MDP (1-7 days, 7-14 days and more than 14 days) and EMBA (up to 12 Months, 12-24 Months and More than 24 Months)provides a comprehensive analysis on the Executive Education (Management Development Programs and Executive MBA) industry in Singapore. The report covers introduction on Singapore Executive Education market, issues and challenges, trends and developments, SWOT Analysis, competitive landscape and government regulations. The report concludes with market projections and analyst recommendations highlighting the major opportunities and cautions.


Market Overview

Singapore Executive Education market is at a mature stage. Singapore Executive Education market in terms of revenue has increased at a positive CAGR during the period 2013-2018. This growth was supported by the increase in number of professionals who wish to pursue these courses while continuing their job, especially in the Strategy and Leadership, Digital Innovation, Cyber security in case of MDPs. In case of Executive MBA programs, there is an increase in the demand for industry specific programs. The market players catered to the needs of the clients by designing a specific curriculum. The customers in the market are driven by the brand value of the institution with duration of the course also being a major aspect in deciding the course and the college.

By Type on Program (EMBA and MDP): EMBA programs have dominated the Singapore Executive Education Market in terms of generating revenue in the year 2018, this is largely due to increasing awareness among senior level executives of the need of programs and the salary hikes received by the alumni’s has amplified the demand for EMBA programs in the country. On the other hand, MDP programmes have accounted second highest share in the overall Executive Education market in Singapore.

By Funding of the MDP Programmes: In Singapore Executive Education market, majority of the programmes are company sponsored. This is largely due to most of the programs are of about 1-7 days and companies sponsor their employees to learn new and highly demanded courses. However, self funded MDP Programmes accounted a mere share in the market.

By Funding of the EMBA Programmes: Self funded programmes dominated the Singapore executive education market in terms of enrollments in EMBA courses in the year 2018. These programs are for a longer duration and are costly therefore they are least funded by the companies. However, it has been observed that the number of enrollments that are partially funded accounted for the second highest share in the market.

By Duration of MDPs: Courses with duration of 1-7 days contributed a major share in terms of number of programs in the year 2018. These courses are largely demanded by working professionals who cannot devote much time for explore the industry vertical. Courses with duration of 7-14 days and those of more than 14 days accounted for a mere share in the overall Singapore Executive MDP market.

By Duration of EMBA: The majority of the share has been accounted by the programmes that have duration of 12 to 24 months. As most of the students who opt to pursue an EMBA are already working within their field of choice, they choose not to leave their jobs in order to become a full-time student. Part-time student takes longer time in completing the EMBA over that of a full-time student. On the other hand, EMBA courses that have duration of upto 12 months accounted for second highest share and more than 24 months accounted for least share in the year 2018.
Competitive Landscape

The Singapore Executive Education market is highly concentrated. INSEAD is the market leader in EMBA market and NUS has the highest market share in the Executive MDP market in Singapore on the basis of revenue in 2018. Other major players on the basis of revenue are Ngee Ann Academy, Nanyang Business School, SMU, ESSEC Asia-Pacific, Management Institute of Singapore and others. In EMBA market, players compete on the basis of types of program offered (structured/customizable), faculty, fee structure, strategic alliances, number of electives offered, placements and alumni network. In MDP market, players compete on the basis of Technological Advancement and Robust Infrastructure, Strategic Alliance and Expertise Knowledge, course structure and faculty.

In future, it is anticipated that Singapore Executive Education market in terms of revenue will increase at a positive CAGR during the period 2018 – 2023(E). In Singapore, it is expected that the demand for 1-7 days courses will be further augmented largely due to increasing need of enhancing new skill set among professionals and as far as Executive MBA is concerned the demand for 12-24 months program will remain high. Moreover, increasing demand from multinational companies is likely to drive future demand for Executive education courses in Singapore. Evident salary hike after completion of these courses will further increase the demand among the new entrants in the corporate world.

Key Segments Covered:-

By Type of Programmes

EMBA
MDP
By Funding in MDP

Company Sponsored
Self Financed
By Funding in EMBA

Self Funded
Partially Funded
Company Sponsored
By Duration of MDP

1-7 Days
7-14 Days
More than 14 Days
By Duration of EMBA

Upto 12 Months
12-24 Months
More than 24 Months

Key Target Audience
B Schools
Online Education Consultancies
Ministry of Education/ Higher Education Authority
Online Education Aggregators
Investors in Private Equity Firm
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023E

Major Institutes Covered:-
INSEAD
National University of Singapore
Ngee Ann Academy
NTU - Nanyang Business School
ESSEC Asia-Pacific (Singapore)
Singapore Management University
Management Development Institute of Singapore
Rutgers University - Singapore
Aalto Executive Education Academy (Aalto EE)
YMCA Education Centre- Singapore
Aventis School of Management
ERC Institute
FTMS Global Academy
Singapore University of Technology and Design
IMD Business School Singapore
PSB Academy

Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Singapore Executive Education Market - Overview and Genesis
Singapore Executive Education Market Size
The Singapore Executive Education Market Segmentation (2018)
Student Profile in the Singapore Executive Education Market
Trends and developments in Singapore Executive Education Market
Issues and Challenges in the Singapore Executive Education Market
Global Synopsis of Executive MBA Programs
Government Regulations in Singapore Executive Education Market
SWOT Analysis Singapore Executive Education Market
Competitive Scenario in Singapore Executive Education Market
Market Share of Major Players in the Singapore Executive Education Market
Profile of Major Players in Singapore Executive MBA Market
Future Analysis of the Singapore Executive Education Market, 2019-2023E
Analyst Recommendations

For more information, refer to below link:-


Related Reports by Ken Research:-




Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications

+91-9015378249

Philippines Remittance and Payments Market Outlook to 2024: Ken Research

Philippines Remittance Market
The report titled “Philippines Remittance and Payments Market Outlook to 2024 – Growth Backed by Sustained Internal Migration, Rise in Overseas Filipino Workers and Surge in BPO Sector” provides a comprehensive analysis of domestic, international remittance and bill payments market in the Philippines. The report covers market size, segmentation on the basis of remittance flow corridors, remittance channel, land-based and sea-based workers, mode of remittance, major occupation group and distribution of OFWs by cash remittance sent for international remittance market. For domestic remittance market, the report covers market size, segmentation on the basis of remittance channel, type of services and major flow corridors. It also includes the bill payments market in the country covering the market size and segmentation by type of bills, mode of payments and channel of payments. The report also covers government regulations in the market, competitive landscape and company profiles for major players in the remittance and bill payments market. The report provides a detailed overview of future outlook & projections with analyst recommendations for the industry.
The report facilitates the readers with an in-depth analysis of the existing and future trends, issues, and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for industry consultants, remittance service providers (MTOs), banks, local agents, payment platforms, pawnshops, and other stakeholders to align their market-centric strategies according to ongoing and expected trends in the future.
Industry Overview
The Philippines the remittance market is led by international remittances and domestic remittances which are represented by the OFW remittance inflow, the internal migrant’s transfers. During 2013-2018, the international and domestic remittance markets have showcased a remarkable growth. The Overseas Filipino Workers (OFWs) space has been the most important source of growth in the Philippines economy. The majority of the OFWs primarily originate from the Cavite, Laguna, Batangas, Rizal, and Quezon (CALABARZON) region, and the peripheral regions of Central Luzon and Metro Manila. Market growth can be attributed to factors like an increasing number of OFWs, growing infrastructure and developmental activities, rising business sectors and increasing job opportunities within the country, surging BPO sector and other related factors.
Market Segmentation
International Remittance Market
Market Potential: The Philippines international remittance market registered a majority contribution from inbound remittances from other countries in 2018. Stable progress in the diversity and coverage of global remittance, networks have enabled more OFWs to remit money at a reasonable cost of services which include automated teller machines, web-based services, and reusable/reloadable cash cards.
By Countries: The US accounted for the majority of the total remittances sent to The Philippines in 2018. Saudi Arabia was ranked as the second largest remittance source for the Philippines. UAE accounted for a major share of the remittance to the Philippines in 2018 and is one of the biggest employers of OFWs.
Competitive Landscape in the International Remittance Market
The continued expansion of remittances in the past several years has been impelled by the sustained innovation on the part of banks, money transfer companies and other financial institutions which provide remittance services to overseas Filipino workers. Majority of the money remittances received by Filipino households are routed through commercial banks. In 2018, more than 80% of the total remittances were coursed through banks, indicating Filipinos’ mounting faith on this channel instead of sending money back home by means of friends or relatives. Remittances transferred through banks have showcased inclining participation over the last five years. Banco de Oro was the largest bank in the Philippines remittance market in 2018 in terms of transaction volume coursed through banks. BDO has formed several partnerships with other money transfer companies and pawnshops in the past few years. This has significantly helped the bank to register a strong performance in the international remittance space.
Domestic Remittance and Bill Payments Market
Market Overview: The market for domestic money transfers in the Philippines is exceedingly dynamic and has been maturing since the past decade. The choice of the service provider, to a greater degree, has been dependent upon the amount of money being transferred. Bank transfers and major PSPs were mostly used in order to transfer large amounts of money.
Domestic Remittance Flow Corridors: In-country Filipinos, characterized by domestic migrants who have moved for better economic and employment opportunities and permanent residents together, accounted for a major share of the total domestic remittances. Additionally, the majority of the overall domestic remittances was funded by people/families who have also received international remittances from Filipinos in other countries. Domestic remittances were observed to be transferred in top cities amongst the provinces included Quezon City, Manila, Makati, Caloocan, Paranaque, Pasig, Mandaluyong, Taguig, Pasay, and Baguio.
Sources of Bill Payment: Convenience stores such as 7-Eleven and Ministop are the major third-party payment channels of the total bill payments in the Philippines in 2018. Owing to the greater reach and accessibility; convenience stores have dominated the bill payment landscape in the Philippines over the past many years. Bill payments through mobile and online platforms have displayed a tremendous growth over the past five years with growing mobile wallet and the number of online methods offered by banks and other local players. Conversely, informal service providers were largely used in semi-urban and rural areas.
Competitive Landscape in Domestic Remittance Market
The domestic remittance market is dominated by pawnshops and MTO due to the large unbanked or under-banked population in the Philippines. The enormous potential of domestic remittances has also engrossed international players such as Western Union into the market. Conversely, the Philippines-based service providers such as banks, regional and national pawnshops including Smart Padala, Cebuana and M Lhuillier and Palawan Pawnshops, LBC Express and others have a noteworthy presence in the domestic market and have provided stiff competition to the international players. Banco de Oro was the largest bank in the Philippines international remittance market in 2018 followed by The Bank of Philippine Islands while Metropolitan Bank was the third largest international remittance player in 2018.
Future Potential
The Philippines remittance and bill payments market has witnessed considerable growth in the past five years. A noticeable amount of FDI inflows was invested in BPO, electronics, and energy sector. With the continual growth in FDI flows in the BPO sector, more employment opportunities are expected that will lead to large scale migrations to urban cities. Rapid growth in the introduction and use mobile technologies in the country for money transfer and bill payments are also a factor for the future growth of domestic remittance and bill payments market of the Philippines.
The continued growth in internal migration is expected to sustain the growth of money transfers taking place in the Philippines. The Philippines has outshined India in terms of voice-based outsourced projects and has become the worldwide leader in the call center industry. Over the past six years, the BPO industry in the country has augmented at an average rate of 25%-30%. International remittance market in the Philippines will continue to be driven by the increasing deployment of Filipinos in other countries. Unskilled workers and laborers will uphold their status as the largest deployed fraction of overseas workers and will continue to account for the largest share of aggregate remittances.
Key Segments Covered:-
Domestic Remittance
By Remittance Channels
Banks
Non Banks
By Types of Services
Branch Pick-Up
Online
Door to Door
Prepaid Cards
Direct Credit to Bank Account
By Major Flow Corridors
Bill Payment Market
By Channel of Payment
Banks
Non Banks
By Type of Payments
Water
Electricity and Fuel Bills
Insurance Premium
Communication
Education
By Mode of Payment
Offline
Online
Method of Payment
Convenience Stores
Online/Mobile Payments
Biller’s Business Offices
Remittance Companies
Banks and Others Offline
International Remittance Market
By Major Flow Corridors
US
UAE
KSA
UK
By Remittance Channels
Banks
Non Banks
By Payout Mode
Cash
Non-Cash/Electronic Transfer
Door to Door Delivery Method of Payment
Key Target Audience:-
Money Transfer Operators
Banks
Pawnshops
Bill Payment Companies
M-Wallets
Mobile Money Companies
Central Bank
Investors and PE Firms
Convenience Stores
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2024
Companies Covered:-
International Remittance Companies:
Banco de Oro
The Bank of Philippine Islands
Metropolitan Bank
Cebuana Lhuillier
M Lhuillier
Palawan Pawnshop
Western Union
LBC
iRemit
Wells Fargo
Xoom
Domestic Remittance Companies:
Palawan Pawnshop
Cebuana Lhuillier
Smart Padala
M Lhuillier
LBC Express
BDO
BPI
Western Union
Key Topics Covered in the Report:-
An ecosystem of Philippines Remittance Market
Overview of Philippines Domestic Remittance Market
Philippines Domestic Remittance Market Size
Philippines Domestic Remittance Market Segmentation
Growth Drivers of Philippines Domestic Remittance Market
Competitive Landscape of Major Players in Philippines Domestic and International Remittance Market
Philippines Bill Payments Market Size
Philippines Bill Payments Market Segmentation
Rising Penetration of Mobile Money Transfers
Philippines Domestic Remittance and Bill Payments Market Future Outlook
Philippines International Remittance Market Overview
Philippines International Remittance Market Size
Philippines International Remittance Market Segmentation
Trends in the Philippines International Remittance Market
Philippines International Remittance Market Future Outlook
Macroeconomic Factors affecting Philippines Remittance and Bill Payments Market
Complete Report is Available Here:-
Related Reports by Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249